Thought Leadership Report: Best Practices for Omnichannel Retailing
18 June 2015 | Source: Computer Generated Solutions Inc.
Integrated Technology: The Heart of Omnichannel Success
This report explores technologies and best practices for meeting consumer expectations and demand for a seamless shopping, delivery and returns experience and includes best practice expertise from leading industry analysts such as Kurt Salmon, Gartner, Demand Worldwide and business technology leaders at companies like Aerosoles.
Growth of Omnichannel Commerce
The growth of omnichannel commerce has challenged global consumer lifestyle products companies to evolve many planning, supply chain and distribution processes to meet demand.
The rapid rise of Internet and mobile sales is forever changing the way companies and their suppliers deliver products across a growing number of sales channels including online, catalog and wholesale, as well as sales through company-owned retail stores, outlets, consignment inventory, international franchisees and global distributors. In fact, a recent Forrester report forecasts that 60% of all retail sales will involve the internet by 2017.
Omnichannel Challenges Expose IT Gaps
Today's discerning consumer has high expectations for anywhere-anytime access to lifestyle and fashion products, and retailers and brands have responded by establishing new processes and paradigms. For example, with growth in ship-from-store scenarios, retailers are managing products and inventory as it "leaves through the front door with the customer and is shipped out the back door directly to the customer's home," says Isaac Krakovsky, partner, Kurt Salmon. In other words, more consumers are ordering online and picking up merchandise in the store (through the front door). But they also are ordering online and having goods from the store packed up and shipped directly to them (through the back door).
While many retailers and brands have devised processes and pieced together systems to support omnichannel commerce, they are not at all confident in their solutions' long-term viability. A 2014 study by Forrester Research, for example, found that 94 percent of companies are encountering barriers to successful execution of their omnichannel plans.